Can Decentralization take over centralization future of crypto looks in enigma but to embellish this world we need something scalable and reliable which has capability to fulfill needs.
Economists are estimating efficiency of cryptocurrency , The Bank of International Settlements has said that crypto's are not scalable as money can do ,in a 24 page article in an economic report.Are they defending cryptocurrency or it is really inefficient to fulfill the needs of global economy.According to BIS ,Switzerland based org has stated “scalability, stability of value and trust in payments" are the three things in which cryptocurrency is legging behind.
Lets estimate total supply of TOP 5 Cryptocurrencies
- Bitcoin - 21,000,000 BTC
- Ethereum - 100,165,675.09 ETH
- Ripple - 99,991,944,394 XRP
- Bitcoin Cash -21,000,000 BCH
- EOS - 900,000,000 EOS
Total - 101,034,160,069 tokens
Benefits of using blockchain technology
- Easy access
- Quick and easy payments
- Fast Settlements
- Lower Fees
- Private
- High security
- Anonymous transaction
- Lightning network
- Mechanism such as proof-of-work
- No third Party
- Easy Access
If there are total 5 cryptocurrencies alive then there are 101 billion tokens for our global population of 7.44 Billion.For every 1 billion people we got $13 billion.
In my opinion cryptocurrency can replace money with providing more than enough benefits to people and goverment.Blockchain can make our world better and more transparent ,illegal and unethical work can be reduced if blockchain technology used efficiently.
Benefits of using Blockchain Technology are big enough to sustain its relevance for upcoming generations.
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